
Japan firms exit Myanmar amid conflict, worsening economy
Japanese companies are pulling out of Myanmar after the military coup four years ago led to worsening violence and disrupted the economy.
Trading houses Sumitomo Corporation and Toyota Tsusho say they have started procedures to liquidate a joint venture set up in 2019 to manage a port in the country.
The port is next to the Thilawa Special Economic Zone on the outskirts of Yangon, Myanmar's largest city.
Sumitomo and Toyota Tsusho say they made the decision because the business environment has worsened since the military coup.
International human rights groups have criticized the port project. They allege a local logistical company that is a partner in the venture has ties with the military.
Other Japanese companies left Myanmar earlier. Beverage maker Kirin Holdings ended its beer business in the country in 2023.
Japanese oil wholesaler Eneos Holdings also pulled out of an oil and natural gas development project in Myanmar in the same year.

Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles


NHK
10 hours ago
- NHK
Long-term damage from Nankai Trough megaquake estimated to be $10 trillion
Japanese experts estimate that long-term economic damage from an anticipated massive earthquake in the Nankai Trough off Japan's Pacific coast could reach 1,466 trillion yen, or about 10 trillion dollars. The Japanese government released new damage estimates on the megaquake in March of this year. It said the costs of structural rebuilding, together with production declines at impacted businesses, add up to 270.3 trillion yen, or about 1.8 trillion dollars. Economic losses during the year after the disaster, including severed roads and railways, would total some 292 trillion yen, or about 2 trillion dollars. A panel of the Japan Society of Civil Engineers estimated the effects of the megaquake on economic activity over the ensuing approximately 20 years. Damage to assets would total 225 trillion yen, or about 1.5 trillion dollars, and economic damage -- an assessment of long-term decline in economic activity -- would total 1,241 trillion yen, or about 8.5 trillion dollars. The panel's figure is more than five times the government estimate in March, and an increase of 56 trillion yen, or about 380 billion dollars, from the panel's previous estimate in 2018. The panel explains that it took into account the results of analyses of production recovery after the Great East Japan Earthquake, and recent price hikes. The estimate does not include the impact of post-quake reconstruction projects. The panel stresses the importance of preparatory measures, noting that 31 percent of the economic damage could be avoided if more than 58 trillion yen, or about 400 billion dollars, were spent on making infrastructure quake-resistant over roughly a decade.


Japan Times
2 days ago
- Japan Times
Japan OKs gender policy guidelines featuring aid for women's startups
The government on Tuesday approved its basic policy guidelines for women's empowerment, which includes supporting female entrepreneurs in regional areas of the country. The Intensive Policy for Gender Equality and the Empowerment of Women 2025, adopted at a joint meeting of government task forces, including the Headquarters for the Promotion of Gender Equality led by Prime Minister Shigeru Ishiba, stresses the urgency of efforts to make rural areas attractive to women. It contains support for female entrepreneurship through gender equality centers set up by local governments. The measure is aimed at encouraging women not to move out of regional areas. The government considers limited job opportunities for women in such areas as a factor behind the exodus, so it will expand consultation services and facilitate the establishment of connections with financial institutions to support startups by women. The government plans to establish in fiscal 2026, which will start in April, an independent administrative agency to promote gender equality. The institution will support regional efforts through measures such as creating a database of experts to be dispatched to rural areas for lectures. Ishiba said at the meeting that the government will promote regional development that makes areas appealing to women, adding that it seeks to "achieve a society in which everyone can live in their own styles."


NHK
7 days ago
- NHK
Japan panel to probe cause of soaring rice price
Japanese Prime Minister Ishiba Shigeru has assembled a top-level task force to investigate the ongoing rice crisis. He is calling for long-term solutions that bring down the price of the country's staple grain. Prime Minister Ishiba is heading the ministerial panel. It will hold its first meeting on Thursday. The panel will investigate what caused the price surge and how the government has handled the situation. Its ultimate goal is to fix problems in the supply system. This is the government's latest attempt to stabilize rice prices. Agriculture Minister Koizumi Shinjiro last week began selling stockpiled rice through no-bid contracts, a first in the country. Ishiba said earlier that the government needs to ensure a continuous supply of the grain. "It is necessary to provide rice at a price that will reassure consumers," he said. "For that to happen, sustainable production needs to be achieved through improving efficiency." Agriculture Minister Koizumi also stressed the need to get to the root of the problem. "I think it is important at the ministerial meeting to thoroughly examine why this latest surge in rice prices happened," he said. Ministers will focus on mid- to long-term policies. Possible topics include increasing exports, production adjustments and subsidies for farmers.